Is the Bank of England now a puppet for the UK government?

As the UK banking crisis began some months ago, there appeared to be severe differences of opinion between the UK government and the Bank of England. However, as the situation worsened there appeared to be a change of mood at the Bank of England which slowly but surely came round to the government's way of thinking. Despite the fact that the Bank of England is wholly independent from the UK government there are claims that the "old lady" of Threadneedle Street is now nothing but a puppet of the UK government.

While Mervyn King, the Gov of the Bank of England, has attempted to give an unbiased opinion and representation of what is happening in the UK economy he has on numerous occasions been overruled by the UK government with Gordon Brown in particular very disrespectful to the bank on a number of occasions. There have even been rumours that the UK government is looking at plans to bring the Bank of England back onside as part of the UK government which would effectively diminish any independence that they have at the moment.

Even though the bank is officially independent from the UK government, many people may not be aware that the government still pick members for highly influential boards within the Bank of England.

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